About Venn
Venn is a company based in Toronto (Canada) founded in 2021 by Saud Aziz and Ahmed Shafik. It operates as a SaaS (Software-as-a-Service), Subscription Services, and FinTech. Venn has raised $15.8 million across 1 funding round from investors including Intact Ventures, Left Lane Capital and XYZ Venture Capital. Venn offers products and services including Global Corporate Cards, Multi-Currency Accounts, Global Money Transfers, Expense Management, and Accounting Automation. Venn operates in a competitive market with competitors including Flutterwave, Square, PayU, Nuvei and ACI Worldwide, among others.
- Headquarter Toronto, Canada
- Founders Saud Aziz, Ahmed Shafik
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Venn Software Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$15.8 M (USD)
in 1 rounds
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Latest Funding Round
$15.8 M (USD), Series A
Feb 26, 2025
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Investors
Intact Ventures
& 3 more
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Employee Count
Employee Count
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Products & Services of Venn
Venn offers a comprehensive portfolio of products and services, including Global Corporate Cards, Multi-Currency Accounts, Global Money Transfers, Expense Management, and Accounting Automation. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Corporate cards are issued for team spending with cashback.
Accounts in multiple currencies are provided for global transactions.
Transfers to numerous countries are facilitated at competitive rates.
Team spending is managed in real-time with control.
Integration with accounting software is offered for efficiency.
Funding Insights of Venn
Venn has successfully raised a total of $15.8M through 1 strategic funding round. The most recent funding activity was a Series A round of $15.8 million completed in February 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $15.8M
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First Round
First Round
(26 Feb 2025)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2025 | Amount | Series A - Venn | Valuation | Left Lane |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Venn
Venn has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Intact Ventures, Left Lane Capital and XYZ Venture Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments are directed toward high-growth consumer and internet technology companies.
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Founded Year | Domain | Location | |
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Investments in early-stage companies are managed by XYZ Venture Capital.
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Founded Year | Domain | Location | |
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Venture capital arm of Alphabet Inc. investing in AI
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Venn
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Venn
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Venn Comparisons
Competitors of Venn
Venn operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Flutterwave, Square, PayU, Nuvei and ACI Worldwide, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
POS solutions are provided for retail businesses.
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| domain | founded_year | HQ Location |
Online payment processing and credit solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Payment processing solutions are delivered to merchants and businesses.
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| domain | founded_year | HQ Location |
Digital payments are processed and managed via specialized solutions.
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| domain | founded_year | HQ Location |
Global e-commerce payment processing and security services are managed.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Venn
When was Venn founded?
Venn was founded in 2021 and raised its 1st funding round 4 years after it was founded.
Where is Venn located?
Venn is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Is Venn a funded company?
Venn is a funded company, having raised a total of $15.8M across 1 funding round to date. The company's 1st funding round was a Series A of $15.8M, raised on Feb 26, 2025.
What does Venn do?
Business banking solutions are offered by Venn, targeting Canadian startups, SMBs, mid-market, and enterprise clients. Services include global corporate cards, multi-currency accounts, expense management, and accounting automation. Operations are streamlined through competitive FX rates, CDIC-protected accounts, and integrations with tools like QuickBooks and Xero. Focus is placed on sectors requiring efficient financial operations without traditional banking constraints. Global transfers and invoice management are supported across numerous countries and currencies.
Who are the top competitors of Venn?
Venn's top competitors include PayU, Flutterwave and Square.
What products or services does Venn offer?
Venn offers Global Corporate Cards, Multi-Currency Accounts, Global Money Transfers, Expense Management, and Accounting Automation.
Who are Venn's investors?
Venn has 4 investors. Key investors include Intact Ventures, Left Lane Capital, XYZ Venture Capital, and Gradient Ventures.